Lithuanian startup Eany.io, reinforcing its presence in the European wholesale market, has announced an important strategic move – the acquisition of startup Mentum.ai.
As part of the deal, Mentum.ai founders, Povilas Skrebutėnas and Mangirdas Adomaitis – seasoned professionals with experience at technology companies such as Vinted, Wix, Argyle, Car Vertical, and others – have joined Eany’s product team. They are transferring their developed solution, which enables online retailers to create consistent, organized, and personalized product descriptions, specifications, and a comprehensive supplier-verified product data catalog.
The Mentum.ai solution, built on advanced data processing and artificial intelligence technologies, has already earned the trust of some of the largest retailers in the Lithuanian market. By integrating the Mentum.ai solution with its existing Eany platform, clients will receive not only reliable product supply from over 280 different suppliers across Europe but also fully prepared product cards that significantly reduce the manual effort required to create and verify product descriptions.
Leveraging data from more than 280 suppliers and offering over 1.8 million unique products in the electronics, household, and DIY categories, Eany will, through Mentum.ai technology, be able to select the most appropriate descriptions for every product, fill in detailed product specifications, and effectively categorize items.
Eany CEO Mindaugas Apanavičius said:
“We are confident that by integrating the Mentum.ai team and their solution into our platform, our clients will receive a unified product sourcing solution that not only optimizes data processing and ensures uninterrupted product supply but also reduces errors caused by traditional AI methods in creating product descriptions. Incorrectly translated brand names are a common issue among online retailers – one that can be avoided by receiving accurate data directly from Eany. This step allows us to enter a new era of business, where the synergy between two innovative solutions means that 1+1 will become 3.”
The new system tackles the market’s most critical challenges, especially when traditional AI solutions often create more problems than they solve. By utilizing the specially tailored Mentum.ai technology, online retailers will receive not only product supply but also detailed, professionally prepared product cards – a solution that has so far been successfully implemented only by the largest global market players. The Eany solution will also empower local market players to remain competitive in the international e-commerce arena.
the founders of Mentum.ai said:
“We are very pleased that the solution developed by Mentum.ai will now be available to an even broader market, enabling more businesses to reap its benefits. We are convinced that this will not only strengthen Eany’s success but also drive rapid growth. Moreover, this solution will provide smaller retailers with better opportunities to compete with the giants – they will instantly receive all the necessary product information and reliable supply from a single source,”
This acquisition is a rare occurrence – a startup, which recently raised funds from venture capital, acquiring another rapidly growing innovative solution. As Mindaugas Apanavičius notes, while the individual growth of both companies could have been successful on its own, their merger creates a synergy that opens new opportunities and accelerates further expansion.
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